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Old 12-04-2007, 04:45 PM
1,352 posts, read 4,157,571 times
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Originally Posted by AnthonyB View Post
Maybe not irresponsible purchaser of a home, but it seems you are admitting to income tax fraud.
Income tax fraud You should refrain from assumptions, you know what they say
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Old 12-04-2007, 07:17 PM
Location: San Diego California
6,797 posts, read 6,118,692 times
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Originally Posted by techtom View Post
Banks, U.S. near deal on mortgages - Mortgage mess - MSNBC.com (broken link)

If this deal goes through, the housing market is going to make a turnaround and go uphill again. Not only will this encourage ARM mortgage holders to hold on to their homes, it will pull new buyers to buy houses sooner!
Wow happy days are here again.......not. This deal like most goverment intervention in free market dynamics is doomed to failure. The last thing the economy needs is another scam. If interest rates are frozen, what will that do to the confidence of buyers of mortgage debt. Money for home loans will dry up and interest rates will increase due to the scarcity of money. The Goverment will continue to lower interest and print money to feed the banks, driving up consumer prices. The end game will be a long drawn out resession with a steady downturn in the living standards of most people.
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